USD/CAD jumps to fresh 1-week tops, eyes 1.3400 mark ahead of US/Canadian jobs report

   •  Bulls seemed unaffected by a subdued USD price action and took cues from softer oil prices. 
   •  The momentum remains capped/lacks follow-through ahead of the US/Canadian jobs data.

The USD/CAD pair finally broke out of a narrow trading range held since yesterday and spiked to one-week tops, closer to the 1.3400 handle in the last hour.

Having once again failed to find bearish acceptance below 100-day SMA, or sub-1.3300 mark earlier this week, the pair staged a goodish bounce and continued gaining positive for the third consecutive session on Friday.

Bulls seemed unaffected by a subdued US Dollar price-action, rather took cues from a follow-through pullback in crude oil prices, which weighed on the commodity-linked currency - Loonie and provided a minor boost.

This coupled with some short-term trading stops being triggered on a sustained move beyond mid-1.3300s might have further collaborated towards accelerating the intraday positive move over the past hour or so.

The uptick, however, lacked any strong conviction as investors seemed reluctant to place/carry aggressive bets ahead of today's important release of monthly employment details from the US (NFP) and Canada.

Technical levels to watch